Ostermann joined Terex in 2004, and has been VP of finance for Terex Cranes for the past five years. Prior to joining the company he worked in a number of financial controlling positions; he received a masters in business science from the University of Bielefeld, Germany.
Ostermann has already begun developing Terex’s relationship with the partners it inherited with the Fantuzzi acquistion. On 13 August he travelled to Hong Kong with a team of Terex managers to meet Fu Yuning, president of state-owned enterprise China Merchants Group, which owns 30% of Noell Crane Systems (China) Ltd.
In a statement issued to announce his promotion, Ostermann said, “We are truly excited to have the Fantuzzi and Noell businesses as part of Terex and will work to ensure that our port equipment customers will benefit from this acquisition. Now we can meet their needs with a full line of port equipment and bring together our diverse port equipment experts to create application solutions.
“We understand that in the port equipment business, maximum equipment uptime is crucial to our customer’s success. Our team has many years of experience in this business and is available to support our customers globally.
“We are committed to the continuous improvement of our business processes. With the Terex Business System approach, we will work hard to improve the port equipment operations with the help of lean manufacturing and related techniques. Our goal is to deliver equipment that maintains its value and gets the job done safely at the lowest cost of ownership.”
